Discussion
Contemplating the bankers under the microscope at the Select Committee, and my own endeavours to make a crust on a daily basis......
Scenario: 1st Jan 2003. You're in business and you get a call from friend.
"Listen Bob, I've got a way of you and me making £10M a year for about the next 5 years. It's not sustainable, in fact it's a bit of creating accounting, but it's 100% legal. At the end of the day it may well end up with a few institutions being laden with some toxic debt. Are you in?"
I'd be lying if I said No.
Yes.
Anyone else?
Scenario: 1st Jan 2003. You're in business and you get a call from friend.
"Listen Bob, I've got a way of you and me making £10M a year for about the next 5 years. It's not sustainable, in fact it's a bit of creating accounting, but it's 100% legal. At the end of the day it may well end up with a few institutions being laden with some toxic debt. Are you in?"
I'd be lying if I said No.
Yes.
Anyone else?
MaxAndRuby said:
Jasandjules said:
No.
The phrase creative accounting put me on notice that it is not something I want to be involved in.
It's legal.The phrase creative accounting put me on notice that it is not something I want to be involved in.
Yes.
Just answering your first question.
And for your second question, initially I thought, "No", because a lot of people are in trouble financially. There's a lot of worry and grief. But then I thought, perhaps we need it anyway. A bull market can't go on forever. It's a way of bringing balance. It means that our future generations can afford to live.
Just answering your first question.
And for your second question, initially I thought, "No", because a lot of people are in trouble financially. There's a lot of worry and grief. But then I thought, perhaps we need it anyway. A bull market can't go on forever. It's a way of bringing balance. It means that our future generations can afford to live.
MaxAndRuby said:
Contemplating the bankers under the microscope at the Select Committee, and my own endeavours to make a crust on a daily basis......
Scenario: 1st Jan 2003. You're in business and you get a call from friend.
"Listen Bob, I've got a way of you and me making £10M a year for about the next 5 years. It's not sustainable, in fact it's a bit of creating accounting, but it's 100% legal. At the end of the day it may well end up with a few institutions being laden with some toxic debt. Are you in?"
I'd be lying if I said No.
Yes.
Anyone else?
If the scheme is legal and proper where does "creative accounting" come in....Scenario: 1st Jan 2003. You're in business and you get a call from friend.
"Listen Bob, I've got a way of you and me making £10M a year for about the next 5 years. It's not sustainable, in fact it's a bit of creating accounting, but it's 100% legal. At the end of the day it may well end up with a few institutions being laden with some toxic debt. Are you in?"
I'd be lying if I said No.
Yes.
Anyone else?
Jasandjules said:
MaxAndRuby said:
Jasandjules said:
No.
The phrase creative accounting put me on notice that it is not something I want to be involved in.
It's legal.The phrase creative accounting put me on notice that it is not something I want to be involved in.
ks, and really they mean :
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